KARACHI: The State Bank of Pakistan (SBP) on Wednesday issued foreign exchange rates for May 10, 2023. The exchange rate is on the basis of weighted average rates of commercial banks.
(more…)Author: Faisal Shahnawaz
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Dollar hits PKR 290 at intraday trading on May 10, 2023
In a significant blow to Pakistan’s economy, the Pakistani Rupee (PKR) plunged to a historic low against the US dollar, reaching PKR 290 during intraday trading at the interbank foreign exchange market on Wednesday. This depreciation follows the previous record low of PKR 288.43, which occurred in April.
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MCB Bank rules out further policy rate hike by SBP
MCB Bank, one of Pakistan’s leading banks, has announced its stance on the benchmark policy rate set by the State Bank of Pakistan (SBP), ruling out the possibility of further rate hikes.
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In a significant blow to Pakistan’s economy, the Pakistani Rupee (PKR) experienced a historic low against the dollar, reaching PKR 288.50 during midday trading at the interbank foreign exchange market on Wednesday, May 10, 2023. This plunge follows the previous record low of PKR 288.43, which occurred during the interbank foreign exchange closing on April 11, 2023.
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Bitcoin rates in PKR and USD on May 10, 2023
On May 10, 2023 the exchange rates of Bitcoin (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) have been reported as:
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Ripple rates in PKR and USD on May 10, 2023
On May 10, 2023 the exchange rates of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) have been reported as:
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Dogecoin rates in PKR and USD on May 10, 2023
On May 10, 2023 the exchange rates of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) have been reported as:
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Unfriendly economic conditions have had a significant impact on the private sector credit offtake in Pakistan, with bank loans falling by 80 percent during the first ten months of the 2022-2023 fiscal year.
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Pakistan blocks social media platforms after PTI chief’s arrest
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